GM Invests $384 Million Into Chevy Volt Factory
GM is making a $384 million investment in its Detroit – Hamtramck plants. where the Chevy Volt and Opel Ampera are built. This investment is estimated to add 1,400 new American jobs, and includes upgrades to the assembly lines for increased output of these two plug-in hybrids.
The investments and upgrades will allow for a second shift to be put into place at the assembly plant, thus adding new jobs. Additionally, GM will invest approximately $65 million into battery technology for use in their current and future EVs. This coincides with speculation that the new 2016 Chevy Volt will be teased at January’s Detroit Auto Show.
Overall this is great news for the city of Detroit, where unemployment is still well above the national average. Sales of the Volt haven’t exactly taken off, but with special lease deals and state incentives sales have at least remained steady. Last fall GM dropped the Volt’s price from $40,000 to $35,000, and as battery costs continue to come down thanks to investments like GM’s, it’s a safe bet that the price will drop again in the near future.